The dream of owning a home is out of reach for 4 million Americans - News Summed Up

The dream of owning a home is out of reach for 4 million Americans


This has priced out about 4 million renters over the past year alone, said Daniel T. McCue, senior research associate at the Joint Center for Housing Studies. Investor holdings accounted for nearly 30% of all homes sold during the first quarter of this year, Harvard's housing studies researchers noted, citing CoreLogic data. Still, he cautioned, rising mortgage rates could ultimately price people out of homeownership. But mortgage rates are indirectly impacted by the Fed's actions on inflation. As investors see or anticipate rate hikes, they often sell government bonds, which sends yields higher and with it, mortgage rates.


Source: CNN June 23, 2022 03:42 UTC



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